FME Credit Union is headquartered in Saint Clair Shores and is the 124th largest credit union in the state of Michigan. It is also the 1,872nd largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 21 employees and 8,397 members. FME Credit Union's savings rates are 3X the national average, and it has a B+ health rating.
Must be an employee of Federal-Mogul Corporation or several other companies. - See Details
Be sure to keep all paperwork, loan papers, emails, etc. when dealing with this credit union. Very unprofessional. No customer service at all. Rude and uncaring.
Save all emails, mailings, contracts letters, etc. with this credit union. Cover your butt when dealing with them. Very unprofessional.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 FME Credit Union had $93,000 in non-current loans and owned real-estate with $9.29 million in equity and loan loss allowances on hand to cover it. This gives FME Credit Union a Texas Ratio of 1.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for FME Credit Union decreased dramatically from 1.53% as of March 31, 2013 to 1.00% as of March 31, 2014, resulting in a positive change of 34.36%.This indicates that the balance sheet and financial strength for FME Credit Union has improved dramatically in recent periods.
In the past year, FME Credit Union has decreased its total deposits by -$3.04 million, resulting in -4.63% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth FME Credit Union has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. FME Credit Union has $72.18 million in assets with $9.29 million in equity, resulting in a capitalization level of 12.87%, which is excellent.
|Assets and Liabilities|
|Equity Capital||$8.91 million|
|Loan Loss Allowance||$376,000|
|Unbacked Noncurrent Loans||$59,000|
|Real Estate Owned||$34,000|
|Historic Data - March 2013|
|Equity Capital||$8.70 million|
|Loan Loss Allowance||$412,000|
|Unbacked Noncurrent Loans||$59,000|
|Real Estate Owned||$66,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.22%|
|Return on Assets||0.24%|
|Return on Equity||1.93%|
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|1.51%||-||-||High-Yield Payroll Savings IRA Traditional (over the age of 50)|
|1.51%||-||-||High-Yield Payroll Savings IRA Traditional (under the age of 50)|
|1.51%||-||-||High-Yield Payroll Savings IRA Roth (under the age of 50)|
|1.51%||-||-||High-Yield Payroll Savings IRA Roth (over the age of 50)|
|1.51%||-||-||High-Yield Payroll Savings IRA Coverdell Education|
|1.26%||-||-||Direct Deposit High Yield Savings Account|
|1.00%||-||-||IRA Shares Account|
|0.40%||-||-||Christmas Club Account|
|0.20%||-||-||Super Share Account|
|0.15%||-||-||Regular Share Account|
|0.15%||-||-||Rainy Day Account|
|0.29%||$2k||-||Money Maker PLUS Account|
|0.24%||$2k||-||Money Maker Account|
|0.10%||$500||-||55 PLUS Checking Account (S-SD)|
|0.50%||$25k||-||36 Month Standard CD|
|0.45%||$25k||-||30 Month Standard CD|
|0.40%||$25k||-||24 Month Standard CD|
|0.35%||$25k||-||12 Month Standard CD|
|0.35%||$25k||-||18 Month Standard CD|
|0.30%||$25k||-||6 Month Standard CD|